Threaded fasteners have been used to interconnect automotive components for years. Typically, a bolt having an externally threaded shaft is mated with a nut having an internally threaded aperture to provide a clamping force to members positioned between the bolt and the nut. During the assembly of complex machines such as automotive engines, the fasteners may be dropped or misplaced. Unfortunately, the dropped fastener may become trapped within an internal cavity of the engine and possibly cause significant damage. If multiple components must be handled and positioned during the fastener installation process, the likelihood of dropping the fastener increases. Accordingly, it may be desirable to attach a fastener, such as a nut, to a component that is to be mounted on the engine and thereby eliminate the risk of dropping the nut within the engine cavity. Furthermore, it may be desirable to provide a component and nut assembly including a translatable clip having a rotatable nut to allow mounting the component on an existing stud that extends from the engine.